Broking firm says its new relative returns methodology is simpler and has greater integrity.
Funds managed by Perpetual bought about 1.26 million units, or 1.17%, of Fonterra Shareholders' Fund for some $A7.32 million, taking its stake to almost 10%.
"The Aussies obviously see some synergies!"
Funds associated with Australia's biggest lender hold 7.4% of the units.
Fonterra sets an indicative price range for its $525 million investment fund.
"The yield seems low. I was expecting more than that. Will be interesting to read the prospectus."
Sign up for NBR subscriber content or email alerts
The easiest way for subscribers to stay logged in is to click the "Remember Me" option on the Member Log In box on the top right of this page.